Sunflower oil is used in the treatment of various diseases and chemical formulations. Food industry also witnesses considerable demand in food industry as a frying oil. The global market for sunflower oil is expected to witness a steady growth due to considerable demand among food manufacturers. Expansion of online platforms and franchise outlets will contribute towards growth of the global sunflower oil market. Europe will remain the largest market for processed sunflower oil globally. The Global Sunflower Oil Market is expected to witness a moderate CAGR growth, and will reach a value of more than US$ 11 Mn in 2022.
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Consumption of Sunflower Oil in Healthcare Industry
Known for its health-related benefits, consumption of sunflower oil is not only restricted for treating cardiac diseases in the hospitals. Attributed to its anti-inflammatory properties, sunflower oil has been a beneficial for people suffering from asthma and arthritis. Apart from its use in treatment of arthritis and asthma, sunflower oil is also used to tenia pedis foot infection among men athletes. Bound to such factors, sunflower oil is expected to witness an upsurge in demand in the global healthcare industry.
Cosmetic Manufacturers to Represent Considerable Demand
Rich in antioxidants and beta-carotene, the sunflower oil witnesses a considerable demand among manufacturers of cosmetic products such as sun protection creams, eye creams, and anti-aging masks. Attributed to gamma alpha linolenic acid qualities, demand for sunflower oil is likely to increase among manufacturers of hair products. Cosmetic industry is likely to contribute significantly towards growth of the global sunflower oil market attributed to such factors.
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Food Industry to Witness Significant Demand
Apart from cosmetic and healthcare industry, sunflower oil further witnesses a considerable demand in the food and beverages industry. On the other hand, manufacturers of food products prefer other healthy oil products including olive oil. Availability of substitute oil product is likely to hinder growth of the global sunflower oil market by 2022.
Retail Sector to Register Highest Growth in the Global Market
Europe will represent the largest market for sunflower oil globally. Processed sunflower oil will outsell virgin sunflower oil in this region. Registering the highest CAGR for processor sunflower oil in the global market, Europe will represent a significant revenue share. Foodservice will remain an attractive end user segment in the global market by the end of 2022. However, retail sector will register the highest CAGR in terms of end users, followed by foodservice.
In terms of distribution channel, sunflower oil will witness significant growth in terms of sales through franchise outlets and online channels in Europe. Sales of sunflower oil products through modern trade will represent a value of over US$ 1,000 Mn in 2022.
Market Players Operating in the Global Market
Leading manufacturers and distributors in the global sunflower oil market include The Adani Wilmar Ltd., Ruchi Soya Industries Ltd, Associated British Foods (Ach), Archer Daniels Midland Company, Beidahuang Group, Bunge Limited, Borges Mediterranean Group, Cargill Inc., Fuji Vegetable Oil, Inc., Adams Group, American Vegetable Oils, Inc., Olympic Oils Limited, Ach Food Companies, Inc, Marico Limited, and ConAgra Foods (Agrotech Foods Ltd).
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